Crocs, Skechers settle out of court

NIWOT – Crocs Inc. and Skechers Inc. ended a patent infringement lawsuit out of court, and Skechers will “discontinue production and sale of certain molded footwear styles,” according to a press release.

The companies would not divulge specific terms of the settlement. The lawsuits were resolved this week when the parties agreed on settlement terms “mutually acceptable to both companies.”

“We are pleased that we were able to resolve these matters without either side having to absorb the energy and expense that ongoing litigation requires,” the companies said, in a joint statement.

Crocs (Nasdaq:CROX), a Niwot-based shoemaker, filed a lawsuit against Manhattan Beach,…